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Audit approach overview
Our audit approach will allow our client's accounting personnel to make the maximum contribution to the audit effort without compromising their ongoing responsibilities
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Annual and short period audit
At P&A Grant Thornton, we provide annual and short period financial statement audit services that go beyond the normal expectations of our clients. We believe strongly that our best work comes from combining outstanding technical expertise, knowledge and ability with exceptional client-focused service.
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Review engagement
A review involves limited investigation with a narrower scope than an audit, and is undertaken for the purpose of providing limited assurance that the management’s representations are in accordance with identified financial reporting standards. Our professionals recognize that in order to conduct a quality financial statement review, it is important to look beyond the accounting entries to the underlying activities and operations that give rise to them.
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Other Related Services
We make it a point to keep our clients abreast of the developments and updates relating to the growing complexities in the accounting world. We offer seminars and trainings on audit- and tax-related matters, such as updates on Accounting Standards, new pronouncements and Bureau of Internal Revenue (BIR) issuances, as well as other developments that affect our clients’ businesses.
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Tax advisory
With our knowledge of tax laws and audit procedures, we help safeguard the substantive and procedural rights of taxpayers and prevent unwarranted assessments.
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Tax compliance
We aim to minimize the impact of taxation, enabling you to maximize your potential savings and to expand your business.
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Corporate services
For clients that want to do business in the Philippines, we assist in determining the appropriate and tax-efficient operating business or investment vehicle and structure to address the objectives of the investor, as well as related incorporation issues.
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Tax education and advocacy
Our advocacy work focuses on clarifying the interpretation of laws and regulations, suggesting measures to increasingly ease tax compliance, and protecting taxpayer’s rights.
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Business risk services
Our business risk services cover a wide range of solutions that assist you in identifying, addressing and monitoring risks in your business. Such solutions include external quality assessments of your Internal Audit activities' conformance with standards as well as evaluating its readiness for such an external assessment.
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Business consulting services
Our business consulting services are aimed at addressing concerns in your operations, processes and systems. Using our extensive knowledge of various industries, we can take a close look at your business processes as we create solutions that can help you mitigate risks to meet your objectives, promote efficiency, and beef up controls.
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Transaction services
Transaction advisory includes all of our services specifically directed at assisting in investment, mergers and acquisitions, and financing transactions between and among businesses, lenders and governments. Such services include, among others, due diligence reviews, project feasibility studies, financial modelling, model audits and valuation.
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Forensic advisory
Our forensic advisory services include assessing your vulnerability to fraud and identifying fraud risk factors, and recommending practical solutions to eliminate the gaps. We also provide investigative services to detect and quantify fraud and corruption and to trace assets and data that may have been lost in a fraud event.
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Cyber advisory
Our focus is to help you identify and manage the cyber risks you might be facing within your organization. Our team can provide detailed, actionable insight that incorporates industry best practices and standards to strengthen your cybersecurity position and help you make informed decisions.
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ProActive Hotline
Providing support in preventing and detecting fraud by creating a safe and secure whistleblowing system to promote integrity and honesty in the organisation.
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Accounting services
At P&A Grant Thornton, we handle accounting services for several companies from a wide range of industries. Our approach is highly flexible. You may opt to outsource all your accounting functions, or pass on to us choice activities.
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Staff augmentation services
We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
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Payroll Processing
Payroll processing services are provided by P&A Grant Thornton Outsourcing Inc. More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department.
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Our values
Grant Thornton prides itself on being a values-driven organisation and we have more than 38,500 people in over 130 countries who are passionately committed to these values.
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Global culture
Our people tell us that our global culture is one of the biggest attractions of a career with Grant Thornton.
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Learning & development
At Grant Thornton we believe learning and development opportunities allow you to perform at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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In the community
Many Grant Thornton member firms provide a range of inspirational and generous services to the communities they serve.
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Fresh Graduates
Fresh Graduates
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Students
Whether you are starting your career as a graduate or school leaver, P&A Grant Thornton can give you a flying start. We are ambitious. Take the fact that we’re the world’s fastest-growing global accountancy organisation. For our people, that means access to a global organisation and the chance to collaborate with more than 40,000 colleagues around the world. And potentially work in different countries and experience other cultures.
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Experienced hires
P&A Grant Thornton offers something you can't find anywhere else. This is the opportunity to develop your ideas and thinking while having your efforts recognised from day one. We value the skills and knowledge you bring to Grant Thornton as an experienced professional and look forward to supporting you as you grow you career with our organisation.
Two words: Thank you
21 Feb 2018One of my favorite stories on gratitude is about a king and a servant who went on a hunting trip one day. A wild animal attacked them and the servant killed it, but was unable to prevent the king from losing one finger. Furious about what happened, the king sent his servant to prison. Later, the king went hunting alone and was captured by barbarians to be offered to their gods as a sacrifice. However, upon discovering that the king had a missing finger, he was set free because they found him incomplete and, therefore, unworthy to be offered to their gods.
The king thought about his servant whom he put to prison, and ordered his release to thank him. He realized that, if not for his servant, he would have died as a sacrificial offer. To the king’s surprise, the servant was more thankful to him. The king was confused and asked why. The servant answered, “My king, had you not put me to prison, I would have been the one offered to the gods. Thank you for keeping me safe.”
I have always admired people who look beyond stressful situations. I have a high regard for those who are grateful despite the challenges that come their way. Rachel Cruze, author of “Love Your Life Not Theirs,” once tweeted, “In a heart filled with gratitude, there is no room for discontentment.” It got me thinking, perhaps it is high time I looked at things differently and started being thankful.
Let me share with you three things, which we usually see as negative situations but which, I think, we should still be thankful for:
Traffic jams. Heavy traffic is really bad, especially in major cities. You lose your temper, because drivers would not give way. You whine about the time being wasted while being stuck in traffic. So what is it about traffic jam that you can be thankful for?
If you are driving your own car, the fact that you have a car is something to be thankful for. Not everyone is seated comfortably when commuting. If you are driving by yourself, be thankful for your “me-time.” It is an opportunity to talk to yourself, reflect and dream. If you are driving with family, co-workers, or friends on board – it is as an opportunity to build or strengthen relationships. If you find yourself in public transport, be thankful you can afford it, because some cannot.
Difficult people. One type of a difficult personality is called the negatron – these people just complain, judge and criticize. The second type is that who knows everything – they do not listen, because they think they are better than everyone. The third type is the passive one – they say yes to everything, do not exert effort, and let others do the work.
Difficult people are everywhere and suck all the energy out of you. What is it about them you ought to be thankful for?
If that difficult person is a client, be thankful because clients keep businesses alive. If the difficult person is a co-worker, be thankful, because you are given a venue to practice patience. If the difficult person is a family member, you may be that someone who has been called to understand his or her situation. Be thankful you have a purpose. In all cases, be thankful for the difficult people in your life. They remind us that, at some point, we might have been in that position and have overcome the situation.
Too much work. For auditors, February to May is the busiest period. We often work on multiple audit engagements, which means a number of working papers to review and meetings to attend. On top of these, we have to study new accounting standards and tax rules.
For others, too much work may mean beating a weekly deadline, extended work hours, or sacrificing family time or social life. How do you practice gratitude when you feel tired after a seemingly endless period of work?
For one, be thankful for being employed. Whether it is a new function in MS Excel or an accounting issue to resolve, learning new things from each task we accomplish are also things we ought to be grateful about.
Be thankful for deadlines, because they mark the completion of an assignment. Be thankful for extended work hours, because they enable you to stretch yourself just to get the work done. Be thankful that, in the work that you do, you actually have teammates with whom you exchange ideas. If you work by yourself and you feel all the pressure, be thankful that you can complete the job in your own way.
In a study made by psychology professor Dr. Robert Emmons, he summarized three benefits of being grateful. He said that gratitude helps boost the immune system (physical), it helps us become happier (psychological), and it helps us nurture and strengthen our relationships (social).
Last week, our Firm celebrated its 30th anniversary. I realize that I have been with the Firm for half of its existence. During the celebration, I was amazed by the presence of P&A Grant Thornton’s alumni, clients, and staff who attended the event. I could not help but feel overwhelmingly grateful to the alumni with whom I was able to reconnect, to our clients who gave time and exerted effort to celebrate with us despite their busy schedules, and to our staff who were so energized partying and celebrating such a momentous occasion for our Firm. Lastly, that celebration reminded me of how grateful I am to our Firm, P&A Grant Thornton, for giving me not just a job, but for providing me a career. Thank you!
Sheng Llovido is a partner of Audit & Assurance of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory and outsourcing firms in the Philippines, with 21 partners and over 850 staff members. For your comments, please email sheng.llovido @ph.gt.com or PAGrantThornton.marketscomm@ph.gt.com. For more information about P&A Grant Thornton, visit our website www.grantthornton.com.ph.
As published in The Manila Times, dated 21 February 2018